Algorithmic stablecoin TerraUSD was supposed to maintain its value at $1 with the help of its sister-crypto, Luna. But TerraUSD’s price collapsed to pennies in May, while Luna plunged by more than 99%, wiping out around $40 billion in value. Their creator Do Kwon has been attempting a comeback by relaunching Luna.
WSJ markets reporter Alexander Osipovich joins host Julie Chang to explain the collapse of Do Kwon’s crypto empire and what his second try looks like.
Photo: Woohae Cho/Bloomberg News
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